Thu, Feb 09 2012
Construction and investment company Niya Ltd announced the investment of 9.2 million euro in the reconstruction of a former bank building in the Bulgarian town of Pleven into a trade and entertainment centre.
Central Mall Pleven would have a build-up area of 11 000 sq m, investor.bg reported.
The five-floor building was planned to include 40 shops. Rental prices would vary between 25 and 30 euro per sq m.
The mall would boast an amphitheatre-shaped cinema, a bank, restaurants, coffee shops and a children's corner.
The trade centre is expected to start functioning in September 2008 and would provide nearly 430 workplaces.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.